Inside Travel Group's MBO Secured with Piper and Cool Japan Fund
Deal News | Nov 04, 2024 | Piper Private Equity
Inside Travel Group (ITG), a leader in Asia-focused cultural adventures, has completed a management buyout (MBO) backed by Piper Private Equity and Cool Japan Fund, Japan's sovereign wealth fund that invests in businesses promoting Japanese culture globally. Established in 2000 by Simon King and Alastair Donnelly, ITG started as InsideJapan, focusing on authentic Japanese cultural experiences. The company later expanded to InsideAsia, covering other Asian destinations. Known for their 'get beneath the surface' travel ethos, both brands offer unique, hands-on cultural travel experiences across multiple destinations. The market for Asian cultural travel from the US, UK, and Australia is anticipated to grow significantly, reaching 6.3 billion by 2026. ITG projects sales to exceed 65 million in 2024, marking a 33% increase. The investment will help ITG, guided by Chairman Ian Simkins, to maintain its market lead and enhance brand awareness in its key territories. As a B Corp, ITG aligns with the values of its new investors, aiming to drive sustainable growth and continue pioneering in cultural adventure travel.
Sectors
- Travel and Tourism
- Private Equity
Geography
- United Kingdom – The article includes Inside Travel Group's UK operations and its founders returning to the UK to establish the company.
- Japan – Japan is central to the article as a destination, home to Cool Japan Fund, and the cultural focus of Inside Travel Group's original brand, InsideJapan.
- Australia – Australia represents one of the key markets from which Inside Travel Group expects growth in travelers to Asia.
- United States – The US is another key market for Inside Travel Group, targeted in its expansion efforts.
Industry
- Travel and Tourism – The article discusses Inside Travel Group, a company within the travel and tourism sector, focusing on Asia-focused cultural adventures.
- Private Equity – Piper Private Equity's involvement in the MBO of Inside Travel Group indicates the article's relevance to the private equity industry.
Financials
- 65 million – Projected sales of Inside Travel Group in 2024, reflecting a 33% increase from the previous year.
- 6.3 billion – Forecasted market size for travelers into Asia from the US, UK, and Australia by 2026.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Inside Travel Group | Target Company | Company | Inside Travel Group specializes in providing cultural adventure experiences in Asia, focusing on authentic deep cultural engagement. |
| Piper Private Equity | Investor | Company | Piper Private Equity is involved in backing the management buyout of Inside Travel Group, investing in the company's growth and expansion. |
| Cool Japan Fund | Investor | Company | Cool Japan Fund, Japan's sovereign wealth fund, co-invested in the management buyout of Inside Travel Group. |
| Blandford Capital | Selling Company | Company | Blandford Capital is the current investor exiting through the MBO process. |
| Simon King | Co-founder/Management | Person | Simon King is one of the co-founders of Inside Travel Group, pivotal in its establishment and direction. |
| Alastair Donnelly | Co-founder/Management | Person | Alastair Donnelly is co-founder of Inside Travel Group, sharing leadership responsibilities. |
| Ian Simkins | Chairman | Person | Ian Simkins, previously CEO of Audley, chairs Inside Travel Group, providing strategic leadership. |